Baldwin Brothers Inc. MA Decreases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

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Baldwin Brothers Inc. MA decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,935 shares of the industrial products company’s stock after selling 144 shares during the period. Baldwin Brothers Inc. MA’s holdings in Illinois Tool Works were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Farmers Trust Co. increased its holdings in shares of Illinois Tool Works by 4.0% in the first quarter. Farmers Trust Co. now owns 1,808 shares of the industrial products company’s stock worth $260,000 after buying an additional 69 shares during the period. Exeter Financial LLC grew its stake in shares of Illinois Tool Works by 1.0% in the first quarter. Exeter Financial LLC now owns 7,363 shares of the industrial products company’s stock worth $1,057,000 after purchasing an additional 71 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Illinois Tool Works by 11.8% in the first quarter. Valeo Financial Advisors LLC now owns 713 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 75 shares during the last quarter. ETF Managers Group LLC grew its stake in shares of Illinois Tool Works by 8.9% in the first quarter. ETF Managers Group LLC now owns 926 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 76 shares during the last quarter. Finally, Capital Investment Advisory Services LLC grew its stake in shares of Illinois Tool Works by 3.8% in the first quarter. Capital Investment Advisory Services LLC now owns 2,156 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 77.88% of the company’s stock.

Several research firms have weighed in on ITW. Morgan Stanley set a $134.00 price objective on Illinois Tool Works and gave the company a “sell” rating in a research report on Friday, April 26th. Citigroup set a $161.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research report on Friday, April 26th. Credit Suisse Group lifted their price objective on Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. UBS Group lifted their price objective on Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus lifted their price objective on Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $142.33.

Shares of ITW opened at $146.62 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. The business’s 50 day moving average price is $150.92 and its 200-day moving average price is $148.26. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $160.78. The stock has a market cap of $47.60 billion, a P/E ratio of 19.29, a P/E/G ratio of 2.48 and a beta of 1.23.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.03. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the firm posted $1.97 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 7.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be issued a $1.07 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s payout ratio is presently 52.63%.

In related news, EVP Steven L. Martindale sold 48,622 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total value of $7,579,197.36. Following the completion of the transaction, the executive vice president now directly owns 84,546 shares in the company, valued at approximately $13,179,030.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Randall J. Scheuneman sold 14,931 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the completion of the transaction, the vice president now owns 21,603 shares of the company’s stock, valued at $3,244,122.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,878 shares of company stock valued at $11,313,386. 0.87% of the stock is owned by company insiders.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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